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June 1, 2007, 2:51 pm
Cree: AmTech Launches With Buy Rating; Betting on “The LED Revolution,” He Sees The Stock Doubling
Posted by Eric Savitz
Andrew Huang, an analyst at American Technology Research, this morning launched coverage of Cree Inc. (CREE) with a Buy rating and an ambitious $50 price target.
Huang is making a big concept bet here: he sees Cree as a bet that LED-based lighting (LED stands for light emitting diode) “is the best available” lighting technology in the market today with respect to efficiency, cost, useful life and the environment. “Similar to the trends in solar and ethanol stocks, we believe the LED lighting market will emerge as the next ‘clean energy’ investment trend,” he wrote in a research note today. “We believe this story is a long-term, fundamental, secular growth story, with technology that it the proverbial ‘game changer.’”
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BP 67.61 +.60. High of 69.96 had some volume. 3.67% dividend. Don't sell your long.
ONT 2.95 -.14. Look to buy at 2.36.
BRCD 8.44 -.75. Going to 5.
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